NJ Gas Prices Continue To Climb

STATE — Average retail gasoline prices in New Jersey have risen 3.2 cents per gallon in the past week, averaging $3.53 per gallon yesterday, according to GasBuddy’s daily survey of 3,525 gas outlets in New Jersey. This compares with the national average that has increased 5.7 cents per gallon in the last week to $3.55 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in New Jersey during the past week, prices yesterday were 8.4 cents per gallon higher than the same day one year ago and are 21.6 cents per gallon higher than a month ago. The national average has increased 28.2 cents per gallon during the last month and stands 7.2 cents per gallon higher than this day one year ago.

“If anything positive came about as a result of Winter Storm ‘Nemo’ it may be that the resulting ‘demand destruction’ seems to have flattened out the rate at which prices had been increasing in the Northeast and the Midwest too,” said Senior Petroleum Analyst Gregg Laskoski. “On the west coast motorists are less fortunate. With western refineries producing at 75% capacity (less than any other region), California has seen its average price increase by 14 cents per gallon over the past week; doubling the rate of increase over the same period for the rest of the country.”